8×8, Inc. (NASDAQ:EGHT) CAO Suzy M. Seandel Sells 7,256 Shares

8×8, Inc. (NASDAQ:EGHT) CAO Suzy M. Seandel sold 7,256 shares of 8X8 stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $2.27, for a total value of $16,471.12. Following the sale, the chief accounting officer now directly owns 275,172 shares in the company, valued at approximately $624,640.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

8X8 Stock Down 3.6 %

Shares of EGHT stock opened at $2.15 on Friday. 8×8, Inc. has a 1 year low of $2.14 and a 1 year high of $4.88. The company has a debt-to-equity ratio of 3.73, a quick ratio of 1.31 and a current ratio of 1.31. The business’s fifty day moving average is $2.65 and its 200-day moving average is $2.95. The stock has a market cap of $265.35 million, a PE ratio of -4.89 and a beta of 1.46.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in 8X8 by 13.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 26,524 shares of the company’s stock valued at $334,000 after acquiring an additional 3,106 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in 8X8 by 55.3% during the first quarter. MetLife Investment Management LLC now owns 60,331 shares of the company’s stock worth $760,000 after buying an additional 21,494 shares in the last quarter. Rhumbline Advisers grew its position in 8X8 by 9.3% in the first quarter. Rhumbline Advisers now owns 285,895 shares of the company’s stock worth $3,599,000 after buying an additional 24,273 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of 8X8 by 18.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 102,013 shares of the company’s stock valued at $1,284,000 after buying an additional 15,889 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of 8X8 by 4.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 101,252 shares of the company’s stock valued at $1,307,000 after acquiring an additional 3,927 shares during the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on EGHT shares. Rosenblatt Securities restated a “buy” rating and issued a $4.00 target price on shares of 8X8 in a research report on Monday, March 18th. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of 8X8 in a research note on Thursday, February 1st. Finally, Morgan Stanley reduced their price objective on shares of 8X8 from $3.80 to $3.00 and set an “equal weight” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.68.

About 8X8

8×8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small and mid-size businesses, mid-market and larger enterprises, government agencies, and other organizations worldwide. It provides 8×8 Work, a self-contained end-to-end united communications solution that delivers enterprise voice with public switched telephone network connectivity, video meetings, and unified messaging, as well as direct messages, public and private team messaging rooms, and short and multimedia services; 8×8 Contact Center, a multi-channel cloud-based contact center solution; and 8×8 CPaaS, a set of global communications Platform-as-a-Service.